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With the diversification of supply chains encouraging more manufacturing investment in the city, industrial and logistics assets are keenly sought after, said the CBRE’s 2021 Asia Pacific Investor Intentions Survey. “HCM City has already been on the radar of investors in recent years, especially those who are looking to invest in Southeast Asia, as the city is viewed as having the potential for greater appreciation in property values and higher yields,” said Dang Phuong Hang, CBRE Vietnam Managing Director. The survey outlines top 10 Preferred cities for cross-border investment, with Tokyo (Japan) in the first place, followed by Singapore, Seoul (the Republic of Korea), Shanghai and Beijing (China), HCM City, Shenzhen (China), Sydney (Australia), Osaka (Japan) and Melbourne (Australia). Investors who expressed interest in investing in Southeast Asia indicated that they are willing to pay more for real estate purchase. 39.4 percent of these investors are comfortable to pay more than 10 percent higher this year than what they are willing to pay in 2020, while 19.7 percent are willing to paying up to 10 percent higher. In the search for returns, investors looking at Southeast Asia are turning to value-added and core assets, even though there are some who are starting to look at distressed assets. Industrial/logistics and office remain their preferred sectors, while the hospitality sector is gaining favour. Henry Chin, CBRE’s Global Head of Investor Thought Leadership and Head of Research, Asia Pacific, said “stronger interest in core investment reflects investors’ greater emphasis on tenant credit and stable cash flows.” “Assets with a solid rent roll of three years or longer typically attract far more bidders than those lacking this type of security,” he added. Logistics was the most popular sector for investment as the pandemic-driven acceleration of e-commerce consumption boosted demand for this asset class. …

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Developers from Vietnam’s metropolises are now also targeting markets elsewhere, photo Le Toan Singaporean developer Keppel Land Vietnam successfully received bookings for all units of the first three towers of its latest project named Celesta Rise in Ho Chi Minh City in one morning event held at the end of November. The astoundingly quick absorption rate of Celesta Rise proved that the market demand remains strong and developers who have good products can still attract buyers by the droves. Indeed, Celesta Rise was one of the most sought-after residential developments in the urban Saigon South area thanks to its strategic location as well as unique and fascinating facilities. Diversifying products and adding technology to serve customers from beginning to end are the way leading developers are now trying to attract customers’ attention. Andy Han, CEO of SonKim Land, Corporation explained why the company’s luxury integrated development The Metropole Thu Thiem has been a runaway success. “Vietnamese love buying property. From the central location to ongoing and planned infrastructure improvements, the development was popular from the onset,” he said at a talk held in Ho Chi Minh City last month themed “Real estate and tech sector in a changing world”. “But what has been really driving sales is The Metropole’s ability to meet the demand of a post-pandemic world: non-touch design and the innovative 99 per cent dust filtering ventilation system. With people spending more time indoors, there is an increased demand for larger apartments of three bedrooms, too.” In 2020, 65 per cent of apartment units launched in Ho Chi Minh City were in the high-end and luxury segment. Figures from CBRE show that the city’s east along with Thu Duc City have been contributing a major portion of property supply, including high-end and luxury products and is forecast to provide 44 per cent of the total supply until 2025. Meanwhile in Hanoi, nearly 70 per cent of launches …

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HCM City (VNA) – After announcing plans to expand its presence in Singapore, co-working space provider WeWork set to open two new locations in Vietnam before the end of the year, according to Nikkei Asian Review. Illustrative photo (Source: MarketWatch) The two new WeWork locations will be in Ho Chi Minh City , one at Sonatus in Ben Nghe ward, District 1, and the other at Lim Tower 3 next February, a company spokesperson said. WeWork has developed a strong presence in Southeast Asia since it opened the first location in Singapore in 2017. It now has footprints in Vietnam, Singapore, Indonesia, Malaysia, Thailand, and the Philippines. HCM City has rapidly become a major business hub in Southeast Asia, creating strong demand for WeWork’s collaborative spaces. SoftBank Group . The rescue package from SoftBank, which includes 5 billion USD in new financing, offered a lifeline to WeWork parent We Co., which was set to run out of money this month. The company has been on a cost-cutting spree after it pulled its IPO paperwork in September and was said to be considering curbing its expansion in China. Shared workplaces in Vietnam have grown on the back of a boom in the local startup ecosystem. The market is witnessing the rise of local brands such as Dreamplex, Toong (backed by Indochina Capital), CirCo (backed by East Ventures), COGO and others. Northstar managing director Bert Kwan recently confirmed the private equity firm's investment in co-working space provider UPGen, which is understood to be about $15 million. UPGen, formerly known as Up, currently operates 13 workplaces in Hanoi and Ho Chi Minh City in Vietnam and plans to expand its network to Bangkok in Thailand and Kuala Lumpur in Malaysia this year. Meanwhile, Toong has 14 locations, including two in Laos and Cambodia with a total area of more than 20,000sq.m. The first WeWork co-working space in Vietnam opened in HCM City on March 13. Covering 5,000sq.m in the E …

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